Gold

[ashaab]

Gold slipped approaching the technical target of the symmetrical triangle at 1552.00 which also represents 88.6% Fibonacci correction as shown above on the chart. Momentum indicators are still negative, which could trigger the continuity of the downside movement , while a breach of 1552.00 and stability below it might trigger the retest of the support level at 1532.00 later.



Recommendation : Based on the charts and explanations above our opinion is selling gold below 1579.00, targeting 1552.00 and 1532.00 and stop loss with 4-hour closing above 1590.00 might be appropriate.

[warnisw]

all banks has gold as main money! LOOK at gold monthly chart, what you see? > gold is only rising, inflation, bank of world is giving loan to to all country,;s by 1 or 2%, but where they will get these 2%? only by making another loan! and more and more money is out in forex market, and more and more money is equal to gold! gold will keep rising for ever, i know for sure, there will be many good pullbacks, because country; like USA will get economy back, and give back it;s loan, but still there are so many country's in our world!

[ashaab]

The metal is facing now the level of 1579.00, where a breach of this level might trigger the extension of the downside movement . The metal breached this level indeed, but yet further confirmation is needed. In general, our morning expectations remain valid, supported by the symmetrical triangle shown above on the chart.



Recommendation : Based on the charts and explanations above our opinion is selling gold around 1590.00, targeting 1579.00, 1552.00 and 1530.00 and stop loss with 4-hour closing above 1624.00 might be appropriate.

[nurdiantofxwave]

1. Review the movement of the GOLD yesterday : Gold opening at 1588.80 .The movement price begin with strengthening to 1590.60 then down until 1587.70 then up to 1595.70. After price fall down again reached their lowest point (1585.10) ,it retraced up to highest point at 1599.60. Gold is closed at 1593.20 (instaforex server).

2. Trend analysis today with sma system:
sma 16 as short term trend indicator= down
sma 96 as medium term trend indicator= down
sma 480 as long term trend indicator = down
So the trend is down strong.

3. Stochastic (5,3,3)/ mrenstein stochastic signal level:
tf m15: 17.06
tf m30: 11.49
tf h1: 8.42
tf h4: 14.54
tf d1: 11.00

4. Possibility of price movements today: After break dayly support 2 level price will go to 1571.17 as dayly support 3 level, but look at stochastic all tf data above, they all in oversold area .This indicates that price will retrace up before down again. If price movement up, it will back to opening price asian session.

5. Pivot,ressistance and support level this day:
p: 1592.63
r1: 1600.17
r2: 1607.13
r3: 1614.67
s1: 1585.67
s2: 1578.13
s3: 1571.17

[nurdiantofxwave]

For short term trader in gold there is a good technical today because if we look the chart in the picture above, gold go to up after touched monthly support level 2 yesterday in american session.

In asian market today ma 16 had crossed up ma 96 .It can indicate that the price will go up, below trend analysis today with ma system:
ma 16 as short term trend indicator= up
ma 96 as medium term trend indicator= sideways
ma 480 as long term trend indicator = down
So the trend is up weak short term

I predict the price will go up again until weekly support 2 area 1601.57

If looking mreinstein stochastic signal tf h1 & h4 in overbought area now, so before up again ,gold price may down then retrace up.

[simpleforex68]

I would like to analyze in long term view of the pair. We can see that in H4 chart of Gold. There is a Harmonic pattern. This is a signal for reverse. So, I think the price will make a reverse and increase strongly in today's session.

[ashaab]

The trading range for today is among the key support at 1530.00 and key resistance now at 1638.00.

The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.



Recommendation : Based on the charts and explanations above our opinion is selling gold around 1594.00, targeting 1579.00, 1552.00 and 1530.00 and stop loss with 4-hour closing above 1624.00 might be appropriate.

[simpleforex68]

In H4 chart, the price is under the Ichimoku Kumo Cloud, this indicates that the price is on down trend. Moreover, the price is at the Kumo Cloud. Therefore, I think the price will be down now.

[simpleforex68]

We can see that in H1 chart, the price is under the Ichimoku Kumo Cloud. Moreover, it is also under the EMA 200. These confirm for the downtrend. The price will continue to decrease.

[mohixpress10]

gold touched 1628 level last week. so we need a retracement. gold may touch 1670 level in the next week. support seen at 1605 and 1580 level. on the other side resistance seen at 1655 and 1685 level. gold is in the way to 1700 level in m y view.